Cost Estimation and Budgeting
In this unit, you are required to complete the Project Budget section of the project plan. Refer to your unit lesson and required unit resources to advance your project plan. You may also need to revisit the Unit V Lesson. For this assignment, create the components listed below.
Project Budget: Include cost estimation and project budget. Include direct and indirect costs, recurring and nonrecurring costs, and any expedited costs.
5.1 Project Resources: Identify all project resources. Develop a cost table for all project resources.
5.2 Other Costs: Identify all significant costs for materials (e.g., equipment, overhead, expediting).
5.3 Cost Estimates: Submit ballpark, comparative, and feasibility estimates. Show all information gathered to support these estimates.
5.4 Time-Phased Budget: Include estimated expenses for duration increments (e.g., days, weeks, and quarters).